Copper moves up on industrial demand
Copper recovered by Rs 2 per kg in the local non-ferrous metals market today.
Copper recovered by Rs 2 per kg in the local non-ferrous metals market today on pick up in industrial demand amid a firming trend in the Asian region.
Traders said besides good industrial demand,gains in base metals in overseas markets on speculation that policy makers from the US to China the biggest consumers would take more measures to stimulate growth,boosting demand for raw materials,influenced copper prices.
Meanwhile,copper for December delivery climbed 1.3 per cent to 56,350 yuan USD 8,862 a tonne on the Shanghai Futures Exchange,the highest price for the most-active contract since July 20.
In the national capital,copper mixed scrap recovered by Rs 2 to Rs 391 per kg.
The following are metal rates per kg:
Zinc ingot 107-111, nickel plate 4215;4 1,032-1,035,gun metal scrap 226,bell metal scrap 228,copper mixed scrap 391,chadri deshi 285.
Lead ingot 129,lead imported 127,aluminium ingots 125,sheet cutting 127,aluminium wire scrap 132 and aluminium utensils scrap 126.
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